NEW DELHI, May 17: Megastar Amitabh Bachchan, who will next be seen in Ram Gopal Varma’s “Department”, says working in the film with advanced technologies was a unique experience.
The 69-year-old actor teamed up with Varma after two years for the action film, where he plays a gangster who eventually turns into a politician.
“In ‘Department’ its not just the 5D camera, several other advanced versions were also used… A unique experience!! Ram Gopal Varma has done just that in yet another pioneering effort in ‘Department’,” Bachchan posted on Twitter.
The film also stars Sanjay Dutt and Rana Daggubati in prominent roles and will hit theatres on May 18. (PTI)
Working in ‘Department’ was unique experience: Big B
Mailbag
Disrespect to National anthem
Sir,
This has reference to the news item ‘Disrespect to National Anthem’ in this paper on 12-5-2012.
Every country in the world has her own National song or National anthem which is respected by the citizens concerned. It is sung or played on very important functions or the like. Every participant in the function shows respect to the National song or National anthem by saluting or standing upright while its recitation.
The news item published in the aforesaid daily is shocking. It is reported that on 11-5-2012 at an inaugural function of three day International seminar and ”Impact of peace, conflicts and disturbances on Economic Development Processes” held at Kashmir University, Srinagar. As reported some officials and the students at the function showed disrespect to the National anthem.
The Governor N N Vohra took serious note of it and asked the VC Mr Talat Ahmed and other officials to take note of it and impressed upon them that such things should not happen in future. It is also reported that some officials said that they have no control over the students. The PRO Mr Showkat Shafi said, as reported, that nothing of the sort has taken place in the function.
However, the disrespect to the National anthem is shocking. One cannot expect such things to happen in the congregation of learned officials, highly educated cultured professors and even educated students of a well known University.
Yours etc….
Soom Nath Tickoo
Ram Vihar, Jammu-7
Save endangered Markhor
Sir,
It is reported that the magnificent spiral-horned Markhor which is found in Pir Panjal range of mountains of Jammu and Kashmir is under threat. Many factors have been cited as the cause of its declining population.
Some of these are insurgency, cross border firing, competition with live stock for grazing ground, poaching, fragmentation of habitat due to LoC fencing, and lack of awareness and developmental projects.
Though the Markhor is included in the Indian (Schedule 1) and Kashmir Wildlife Protection Acts, the threat against it survival remains.
In this context it may be said that the Forest department, and other concerned agencies must take every step to ensure that this endangered species is protected. It will be a great loss in case this species gets extinct from this planet. We will have nobody to blame except ourselves.
Yours etc…..
Farooq Khan
Ramban
No increase in retirement age
Sir,
The employees of State are demanding increase in retirement age from earlier 58 to 60 years. The demand has not fructified yet because this is a very sensitive issue. On one side the educated youths of the State are waiting for entry into Govt jobs on the basis of qualifications acquired by them, which can only be possible partially by creation of posts by the Govt in different departments and partially by appointments of the candidates on the posts vacated by retired peoples from different posts/departments.
But owing to good increase in salary during the last two Pay Commissions, the employees are least interested to proceed even on superannuation retirement. Before succumbing to the pressure of the employees and issuance of any such orders with regard to increase in retirement age, the Govt should keep in view the unemployment scenario of the educated youths of the State, who are sitting idle after secured degrees in respective fields.
As such Govt should say no to increase in retirement age. As those who are at the verge of retirement and who those who have joined service upto 31/12/2009 are entitled for pensionery benefits and can easily carry on the expenses of family in a proper manner.
Yours etc….
R C Sharma
Shiv Nagar, Jammu
Streamlining education
The cabinet has cleared many necessary and timely suggestions made by a special committee under the chairmanship of the Chief Secretary that lead to streamlining of education and recruitment in the state service. A serious and intricate situation had been created by an order of the Government last year which de-recognized nearly 146 private educational institutions of the State. The problem was with the students obtaining degrees through distance education mode. After de-recognition, the degrees obtained by the former students of these institutions through distance mode were not recognized by employing authorities. It led to litigation on a wide scale because the students were not at fault. After all if the Government slept for years at end over the question of legality of these institutions, why should the unsuspecting students bear the brunt? De-recognition of such a large number of illegal institutions speaks of chaotic conditions and administrative failure. This can happen only in a lawless state. Has the Government taken any action against such officials as are responsible for this lapse? They are the first on whom the axe should have fallen and not the students. The decision of the cabinet to de-recognize the degrees obtained through distance mode again seems unjustifiable. The committee should have suggested a via media of asking the affected degree holders to clear the bar in order to legalize their cases. The essence of distance education, as we are told by the UGC, is that such students as have difficulty in accessing institutions of higher education for continuing their academic pursuits provide an opportunity to them to do so. It has been a great idea for a backward country like India and the Indira Gandhi National University became the most prestigious institute in this regard. It set forth the norms and standards for a university to open the department of distance education. The essence of the scheme should not get defeated by the underhand means employed by some unscrupulous people who open fake educational institutions and colleges and falsely tell aspiring students that they are affiliated to some mainstream university. Prevention of these criminal acts is the responsibility and duty of the Government, and especially the departments of higher education in our state this department has miserably failed to check the mushrooming of illegal institutions which has been the root cause of embarrassment for the Government and frustration for the students.
One more consequence of this stark negligence on the part of the concerned authorities has been the discriminatory treatment adopted in prioritizing the merit of a degree obtained through distance mode from a central or centrally recognized institute and the one obtained from a college affiliated to a university. Any discrimination of this sort is bound to discourage the students who are placed on the wrong side of the line. It is unjust and unlawful. It is a different matter to build a claim on the basis of merit like marks in lower examinations etc. Nobody would like to interfere in the criterion forming policy of the Government. But it has to be uniform and as far as possible fully accommodative.
From the reports trickling down in the media, we find that the cabinet has dealt with this part of the case very minutely and the policy adopted appears very sound and workable. The Government has at least realized the consequences of even a small negligence on the part of a Government department or functionary. We hope that in future no private institute should be allowed to function unless it fulfills the requisite conditions.
Secondly, there have been grave lapses in the system of recruitment and promotion. Government is the biggest employer in J&K State meaning it has the largest number of employees running into lakhs. There are recruitment rules applicable to all candidates seeking Government employment and besides there are also departmental rules and both run side by side without clash. The question is of establishing the merit of aspirants. Educational career, marks sheets, performance in written and oral test usually called entrance tests are the accepted norms on the basis of which merit of candidates is established. Perhaps this cumbersome system does not really do justice to deserving candidates. It can be manipulated, it can be subverted and it can be abused. There are hundreds of court cases of this nature pending before the judges. This has necessitated the cabinet to review the system and come out with some reforms based on the recommendations of the committee headed by the chief secretary. These minor or time serving reforms are welcome because after all the essential purpose is good governance. The Chief Minister has been trying his level best to reform the system so that delivery of justice and administration becomes transparent, quick and justifiable. Education department has the largest number of employees in the state administration and its problems too are both quantitatively as well as qualitatively enormous. The Government has already taken a number of steps to improve the functioning of the department of education and much more is still in the pipeline. Even since the Chief Minister took charge of the department, it has come under scanner a number of times and various improvements have been suggested including promotions as principles and senior lecturers etc. and a policy of postings and transfers has also been standardized to remove corruption and nepotism. These measures should not go unnoticed. We have a vast educational network in the State and education to backward areas and remote villages is spreading fast. This will necessitate the Government to keep pace with the phenomenon in terms of updated services and administrative reforms. The rate of literacy is increasing and has almost reached the neighbourhood of 65-70 per cent. Women education is also spreading fast. A day will come when the much complicated affair of transfer of teachers and other staff will cease to be because local expertise will be available for recruitment. Therefore the reforms which the cabinet has agreed are of far-reaching importance.
Cairn deal boosts miner Vedanta’s core profit
LONDON, May 17: India-focused miner Vedanta posted a 13 percent rise in full-year core profit, as its zinc operations and recently acquired oil producer Cairn India helped offset the impact of a regional mining ban on its key iron ore operations.
The London-listed miner is in the throes of a simplification of its byzantine structure, which will see it place all but one of its subsidiaries under the umbrella of a single operating unit. The company said it was on track to complete the overhaul by the end of the calendar year.
Earnings before interest, tax, depreciation and amortisation (EBITDA) rose to just above $4 billion, in line with analyst expectations, though its core profit margin, excluding custom smelting, dipped to 40.6 percent from 44.6 percent.
London-listed Vedanta took a majority stake in Cairn India late last year in an $8.7 billion deal, buying most of the stake from Cairn Energy. Core profit from Cairn – $713 million – accounted for the bulk of the group-level increase.
Underlying attributable profit after tax, however, fell 46 percent due to lower attributable profit from subsidiaries andhigher interest costs after the Cairn deal, but again met forecasts at just over $387 million.
Vedanta last month posted a drop in its full-year iron ore output, hit by a ban on mining in the southern Indian state of Karnataka and logistical bottlenecks in nearby Goa that dented one of its key profit contributors.
(AGENCIES)
SSTL appoints COO for Kerala circle
NEW DELHI, May 17: Against the backdrop of it 2G licences having been been cancelled, Sistema Shyam Teleservices (SSTL) today said it has appointed Radhakrishnan KV as the Chief Operating Officer for Kerala Circle.
Reporting directly to Cheenu Seshadri, COO (South and West Regions), Radhakrishnan will be responsible for further stimulating the business growth for the company in the circle, SSTL said in a statement.
“Radhakrishnan has been active in the industry for two decades. I believe his vast knowledge and expertise will help further expand our operations and leverage the bandwidth of our business in Kerala,” Seshadri said.
Recently, SSTL, which operates under the MTS brand, adopted a regional operating structure in view of the company’s expanding voice and data services in the country.
The structure was put in place to enable faster decision making and ensuring flawless execution of the company’s data centric- voice enabled strategy, SSTL said.
SSTL is one of the new telecom players that have been impacted by the Supreme Court’s order cancelling 122 2G licences that were allotted in 2008 during the tenure of former Telecom Minister A Raja.
It has filed a curative petition in the Supreme Court seeking re-examination of the verdict.
The company has expressed its intention to bid for spectrum in the auction to be held by the government at a later stage.
The company has over 16 million wireless subscribers and under the MBlaze brand provides mobile broadband services to more than 1.5 million customers.
It employs over 3,500 people, operates through 300,000 retailers and has made investments of over $ 3.1 billion. (PTI)
3i Infotech swings to loss in Q4
MUMBAI, May 17: 3i Infotech reported consolidated net loss of
Rs 293.81 crore for the quarter ended March 31, 2012, as compared to net profit of Rs 63.11 crore in the same period last year.
Total consolidated income has decreased by 45.71 percent to Rs 353.77 crore for the quarter ended March 31, 2012 from Rs 651.61 crore in the year ago period, a release said,
For the year ended March 31, 2012, the company has posted consolidated net loss of Rs 360.03 crore as compared to net profit
of Rs 252.51 crore for the year ended March 31, 2011.
Total consolidated income has decreased 34.58 percent from Rs 2569.76 crore for the year ended March 31, 2011 to Rs 1681.02 crore for the year ended March 31, 2012. (UNI)
Britain’s FTSE eyes fresh 5-month lows
LONDON, May 17: British equities eased towards fresh five-month lows on Thursday, as unabating concerns about Greece outweighed a string relatively solid corporate outlooks and upbeat Japanese data.
The benchmark UK FTSE 100 index opened slightly higher before dipping back into the red. By 0705 GMT it was down 0.3
percent or 15.63 points, at 5,389.60 points, moving back towards Wednesday’s five-month intra-day low of 5,354.
(AGENCIES)
UK says GM workers agree deal on Astra production
LONDON, May 17: General Motors will build the next generation of its Astra compact in Britain, rather than in Germany, after workers at its plant in Ellesmere Port, northwest England, agreed to a new labour deal overnight.
‘It’s been confirmed this morning that they (the workers) have been balloted, that they’re willing to adopt tough but flexible labour practices,’ Britain’s Business Secretary Vince Cable told BBC radio on Thursday.
A source close to negotiations said votes were still being counted but that it was clear a deal, which will be a coup for the British government but a blow for Germany, was ‘highly likely’ to have been agreed.
The deal will secure the jobs of 2,100 staff at the Vauxhall plant and provide a huge boost to the British government, which is grappling with a recession and weak opinion poll ratings. Vauxhall is the UK arm of Opel, GM’s European unit.
The decision also means hundreds of new jobs will be created at the plant as it moves from two production shifts to three.
There had been speculation earlier this year that the plant could miss out on future investment by owners General Motors, threatening jobs.
Reuters reported on Wednesday that a deal was close but was dependent on workers at the plant near Liverpool voting in favour of changes to working conditions.
Opel is now expected to halt production of the Astra, its most important model, at its main plant in Ruesselsheim, Germany, and making the car only in Ellesmere Port and in Poland’s Gliwice plant from 2015.
Securing increased production by foreign-owned carmakers based in Britain has been one of the few bright spots in a drive by politicians to boost manufacturing and rebalance the economy away from financial services.
‘The company felt … We in the UK were totally committed to this industry, there’s a very good relationship between the company, the unions and the government, we’re getting fully behind it, the labour force are flexible in their approach to working practices,’ said Cable.
‘These are big long term things, when exchange rates go up and down.’
There had been speculation earlier this year that the Ellesmere Port plant would be closed by owners General Motors, threatening heavy job losses.
(AGENCIES)
Gold prices to cross Rs 30K/10 gm during June-August: ASSOCHAM
NEW DELHI, May 17: Gold prices in the domestic market may cross Rs 30,000 per 10 grams (gm) during the June-August quarter registering a strong recovery on account of myriad reasons ranging from slowdown in inflow by foreign institutional investors (FIIs), rising headline inflation and rupee depreciation, industry body ASSOCHAM said today.
Besides that, growing signs of fatigue in the realty sector to pent up demand by jewllery manufacturers and traders in wake of India’s annual wedding and festive season will also pumped up the prices of the yello material, industry body said.
It said gold imports in India might also reach about 1000 tonnes in 2012-13 from about 933 tonnes worth 59 billion dollars in 2011-12 and its price might touch Rs 35,000/10 gm by the turn of this year, said The Associated Chambers of Commerce and Industry of India (ASSOCHAM).
‘Lack of clarity on tax implications resulting in likely affect on old transactions has led to massive slump in FIIs inflows which has compelled investors to move out from capital and commodity markets and invest in bullion (both cash and ETFs) to hedge against inflation and get good returns,’ ASSOCHAM secretary general Mr D S Rawat said.
Besides, weakening rupee against the dollar due to trade imbalance together with soaring current account deficit, slowing exports on account of falling growth in the US and Euro-zone and aforesaid reasons will lead to upwards spiraling of gold prices, Mr Rawat said.
‘Apart from this, the annual festive and the wedding season is likely to swell demand for gold which will fuel sale of jewellery and drive up imports of the precious metal, more so as the government has rolled back the one per cent excise duty on gold jewellery,’ Mr Rawat said.
‘Even the rural households who have received huge compensation from sale of land are investing heavily in gold considering it as the safest investment bet and its liquidity.’
Industry body said a three-week long strike by gold traders and jewelers together with a lean period in March-April had resulted in a temporary lull in gold imports which might have tanked significantly by over 50 per cent.
Considering that gold holds immense traditional value during the festive season and weddings in India, its imports will increase in all probability to meet the surging requirement during the months of June-August, ASSOCHAM said.
‘We might witness a surge in pre-bookings, buying by stockists and retailers, purchase of gold by consumers in terms of physical bars, coins, gold exchange traded funds (ETFs), rings and other jewellery with the onset of wedding season across the country,’ Mr Rawat said.
ASSOCHAM also interacted with about 200 goldsmiths, jewellery manufacturers and retail jewellers in Ahmedabad, Chennai, Delhi (Chandni Chowk) and Mumbai (Zaveri Bazaar) during the course of last 20 days to ascertain the gold trading sentiment in the current scenario.
Majority (55 per cent) of respondents in these cities said gold imports are expected to swell during the quarter of June-August as they brace up for the marriage season. Besides, many even said gold is one of the best investment products available and its traditional appeal remains intact compared to all other investment instruments.
About 60 per cent of respondents said they are closely watching the situation and opined that weak recovery in the US economy and persistent troubles in the Euro-zone will enable gold prices to rise further and many even reckoned it might reach Rs 35,000/10 gm by the end of the year.
Almost all the respondents said with investors shifting funds from stocks to bullion, it will also play a major factor in pushing up gold prices and imports significantly, it added.
(UNI)
Samsung Life says won’t bid for ING Asia insurance biz
SEOUL, May 17: South Korea’s Samsung Life Insurance said on Thursday that it had decided not to bid for ING Groep’s Asia-Pacific insurance operation, saying the sales method was not in line with its strategy.
‘We considered the acquisition as part of our strategy to expand overseas business, but we have decided not to participate in preliminary bidding,’ Samsung Life said in a regulatory filing. The insurer added that it would reconsider a bid if there were changes to the sales method, without going into further detail.
(AGENCIES)